Olo gets $18M investment from Tiger Global for order, delivery platform

Jan. 10, 2019

Olo, a mobile ordering and delivery platform for restaurants, has received $18 million in financing from Tiger Global Management, according to a company release.

"We have invested heavily in the restaurant technology industry as part of our focus on e-commerce and we are very impressed with the work Olo has done to help restaurant brands benefit from digital ordering adoption by acting as their digital interface and technology backbone," Scott Shleifer, partner at Tiger Global Management, said in the announcement. "We believe Olo has a long runway ahead."

The investment was structured using common equity held by long-term Olo employees, which will give them the opportunity for long-term benefit, the company said.

Olo works with some of the biggest U.S. restaurant chains, including Applebee's, Chipotle, Denny's, Five Guys Burgers & Fries and others.

Tiger Global led a $300 million investment in September 2018, for Postmates, a major on-demand delivery platform that operates in more than 400 cities in the U.S. and Mexico. That firm delivers for Chipotle, 7-11, Blaze Pizza, Shake Shack and other brands.

 

Topics: Financial News, Mobile Marketing, Online Purchasing, Restaurants, Technology Providers

Companies: Olo, Postmates, Chipotle

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